Target Market. What is target marketing? Is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its.

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Presentation transcript:

Target Market

What is target marketing? Is a group of customers towards which a business has decided to aim its marketing efforts and ultimately its merchandise. How will you decide what specific group you are going to spend advertisement dollars on.

How companies determine a target market Businesses create a customer profile: Demographics Geographics Psychographics

Demographics Age Baby Boomer Generation x Generation y Gender Income Disposable Discretionary Marital Status Ethnic Background Religion Occupation

Geographics Where people live: Local Regional National Global

Psychographic Grouping people people with similar lifestyle Activities Attitudes Personality & Values

Please list at least one product/service that is marketed based on the following: Age Location Religion Race Income Gender

Mass Marketing vs. Target Marketing ( segmentation) Using a single marketing strategy to reach all customers: Chewing gum Tooth paste Toilet paper